With the World Cup in full swing and the summer holiday season about to start, travel insurance should be top of everyone’s mind when booking your trip away, even if you are only going to Paris for a weekend break. Your travel insurance policy will cover you for many things, such as a delayed or cancelled trip, death or illness, emergency medical assistance and lost baggage. By not having travel insurance, should you need to change your holiday plans at the last moment, for example illness or death of a close relative, the cost of changing an airline ticket or cruise itinerary can be substantial, especially on short notice. Plus the costs of emergency medical assistance while travelling abroad are beyond the budget of many individuals and families.
Just like health and life insurance, travel insurance is one of those products that nobody wants to pay for, but everybody feels that they should have. The chances are high that you will not even need insurance while travelling. However, a good travel insurance policy can make all the difference in case of any unforeseen circumstances and is worth having for the peace of mind alone. The cost of travel insurance can vary greatly.
It will depend on the amount of cover you need; the length of your trip; which countries you are travelling to; and whether you plan to participate in hazardous sports, such as diving to great depths or skydiving. Age also has a bearing on cost of travel insurance and the premiums tend to increase once you are over 65.Pre-existing medical conditions can often be an issue when purchasing your travel insurance. If you have a pre-existing medical condition, seek out a travel insurance provider who specialises in providing cover for your particular condition. Should you need to make a medical claim abroad, a specialist provider is best placed to get you the most appropriate medical treatment in the most appropriate medical facility, ensuring you are not medically over treated.
Some providers will offer to cover everything, but exclude your pre-existing medical condition, you should think very seriously before accepting this type of policy, if you had a medical emergency to do with your medical condition, how would you cover the costs? The costs can run into thousands of pounds. Having a pre-existing condition generally means you may be paying more for the cover, but it will not necessarily prevent you from being insured. Make sure you accurately inform your insurance company of any pre-existing conditions, otherwise your insurance company has the right to revoke your policy at a later date.
If you travel frequently throughout the year, and have bought a multi-trip annual policy or a family policy, make sure you read the policy wording and check for exclusions. Many policies may exclude hazardous sports or high-risk travel spots while others may ask the customer to pay an additional premium to add these risks to the policy, it is particularly important to check your cover and exclusions if you are depending on an annual travel insurance policy given free by your bank or credit card company. Should you have any changes in health between buying your travel insurance policy and travelling, you must advise your travel insurance provider, if you fail to do this you will not be covered if you need to make a claim connected to your new medical condition whilst you are on holiday.
